Reserve Bank governor Raghuram Rajan has said there is going to be a bigger opening because they could contemplate new rules for the entry of foreign banks. It may even allow them to take over Indian banks.
Shailendra Bhandari, MD & CEO, ING Vysya Bank explains on CNBC-TV18, after the announcement of quarterly results, that growth in NII led to an expansion in NIM to 3.61 percent. Advances grew 20 percent despite two large repayments from telco segment while deposits grew at 19 percent and the CASA was at 32 percent (y-o-y).
MD & CEO of ING Vysya Shailendra Bhandari says that the bank faced a few challenges in Q1 due to the interest rate scenario in the country
Shailendra Bhandari of ING Vysya Bank says, net interest margins were lower due to priority sector lending in Q4. "If you look at the full year NIMs, for the last several years, it has been very steady around 3.25% to 3.3%. So, we don‘t see any reason why the pattern should break," he adds.
The RBI's 50 bps rate cut was beyond expectation, stated Shailendra Bhandari, MD & CEO, ING Vysya Bank.
ING Vysya Bank has clocked net interest margin growth at 3.5% this quarter. Speaking to CNBC-TV18, Shailendra Bhandari, managing director and chief executive officer of the bank says that margins will stabilize at current levels going forward.
Shailendra Bhandari, managing director and chief executive officer at ING Vysya Bank expects the bank's credit growth to continue in the range of 22%-25%.
The private sector lender ING Vysya on Thursday raised Rs 1,000 crore through qualified institutional placements (QIP) and preferential allotment of shares to the promoters.
Technology has become a way forward for almost all businesses with increasing dependency. In fact most organisations today are driving profitability through streamlined operations and innovation, which come only by implementing the latest techniques.
ING Vysya Bank has announced its fourth quarter. The company's Q4 net profit was up at Rs 91.3 crore versus Rs 67.9 crore. Shailendra Bhandari, MD and CEO, ING Vysya Bank says, NIMs might inch down in the next quarter.
In an exclusive interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, Shailendra Bhandari managing director and CEO of ING Vysya Bank says that RBI’s move is all set to hurt the banking sector. “Banks are going to be under pressure in order to boost deposits,” he says.